BitPay, the world’s largest provider of Bitcoin and cryptocurrency payment services, announced today that mobile payments app Slide, created by PayPal backed Raise Marketplace, is adding cryptocurrency as a payment option using BitPay. Using Slide, consumers can earn unlimited 4% cash back instantly when paying online or in store through contactless checkout. Now, customers can earn 5% cash back when paying with crypto through BitPay. The Slide app works with 150 retailers at 100,000 nationwide locations including Lowe’s, Ulta Beauty, Chipotle, and more.
“Crypto offers merchants like Slide a huge opportunity to attract new customers and sales, and with the recent run up in the value of bitcoin, we are expecting a significant jump in spending for the holiday season as it’s a great time to add crypto as a payment option,” said Sonny Singh, Chief Commercial Officer with BitPay. “BitPay allows Slide to accept crypto as a form of payment without having to hold crypto or pay the high fees associated with traditional payment methods.”
BitPay accepts Bitcoin, Bitcoin Cash, XRP and Ether, as well as four dollar-pegged stablecoins, USDC, GUSD, PAX and BUSD for payment.
Holiday shopping is an ideal opportunity for crypto customers to make both everyday and gift purchases online and in person easily with Slide. Compared to last year, the National Retail Federation forecasts holiday sales to increase between 3.6% and 5.2% to a total between $755.3 and $766.7 billion.
“With Slide, crypto users can spend their funds on everyday items and holiday gifts from brands that don’t traditionally accept crypto,” said Jay Klauminzer, CEO of Raise Marketplace, LLC. “With a rise in bitcoin usage and value, we chose BitPay to manage processing of crypto payments because they handle the entire process of getting crypto from the customer and depositing cash into our account.”
In addition to providing a safe, touch-free payment mechanism, Slide enables cash back savings for consumers at a variety of retailers. Crypto funds deposited ahead of time earn an extra 1% (5% total) on every purchase and speed up the payment process at checkout. To pay with Slide, customers select the retailer, enter the purchase amount and input the serial number online at point of sale or scan a barcode on their phones. Slide customers can also link to credit cards, Apple Pay or Google Pay.